Fitch affirms Thai EXIM bank at BBB+

Fitch Ratings affirmed the Long-Term Issuer Default Rating (IDR) of Export-Import Bank of Thailand (EXIM) at ‘BBB+’ and the National Long-Term Rating at ‘AAA(tha)’ on Monday. The Outlook for both ratings remains Stable.

EXIM’s ratings are supported by its Government Support Rating (GSR) of ‘bbb+’. Fitch believes there is a high likelihood of extraordinary state support for EXIM if needed, Fitch report added.

The bank’s IDR and Outlook are aligned with those of the Thailand sovereign, reflecting its strategic importance, role as a policy institution, full state ownership, and implied creditor protection.

EXIM’s National Ratings reflect its strong credit profile compared to other issuers in Thailand. The National Long-Term Rating signifies the lowest default risk expectation in the country.

Attribution: Fitch Ratings report

Subediting: M. S. Salama